Video: Fulton’s Bluefire Renewables Losing Major Government Investment
Fulton, Miss. (WCBI) – Another Northeast Mississippi alternative fuels maker is in trouble. The U.S. Department of Energy has withdrawn its 88 million dollar investment in Bluefire Renewables’ 300 million dollar biofuels plant proposed for the Fulton Port for more than four years. Bluefire is appealing the decision and says it will continue to seek other funding. Its partners have operated a similar plant in Japan for a decade. The company completed site work in Fulton in the summer of 20-11, paid for port improvements and continues to pay the lease on land. Meanwhile, KiOR continues to try to raise money to avoid default on a state loan next week at its Columbus alternative fuels plant.